We recognize that the fishing industry is unique and complex in its regulatory and financial needs. Over the years we have helped many fishers navigate the rules and changes they face to get the most out of their fishing business. Our process of focusing on what is important to each client helps guide us through many key aspects of their financial lives, such as:
- Maximizing their business structure
- Tax efficient planning
- Planning for retirement
- Planning for business succession
We pride ourselves on connecting fishers of the Atlantic Region with the professional advice they need to make informed decisions about their business. To find out more about the events and information sessions specific to fishers, please contact us.
Cashflow management
Incorporated fishing enterprises and fishers in a sole proprietorship have distinct cash flow needs that change over time. As well, your cash flow through the seasons and through the years may ebb and flow based on factors you can’t control.
Succession planning
Succession planning is a process that takes place over a long period of time, not just a one-time event that is carried out quickly. In reality, succession can involve transferring many different elements of your fishing business – from your knowledge and skills, your labour, the management of the business, and business control and ownership – from one generation to another, or from one owner to another.
Preparing for the sale/acquisition of licenses
There are a many factors to consider when preparing for the sale or acquisition of licenses. The key considerations are the tax liabilities from the sale of individual licenses or the full enterprise. It is essential that proper tax planning occurs to ensure you receive the maximum benefit from the sale.
The Great Cape Breton Lobster Derby
For several years now we have been engaging fishers in the areas of Louisburg, Cheticamp, and Ingonish to help raise funds for local charities and food banks in these fishing communities. This annual event has provided fun and friendly competition for registrants to come home with the award of capturing Cape Breton’s Biggest Lobster!